Generally speaking, no.
Statue? Playstation Gear, GamingHeads, Triforce (non-CE) do them better
Art book? Dark Horse, Udon, Titan, Bluecanvas, DONTNOD do them better.
Soundtrack? Video game vinyl is starting to become a thing.
Presentation? Cardboard box where everything's just crammed in.
Collector's item/limited? Most CEs get massive price drops because they're mass-produced. For what you get, the Halo Reach Legendary Edition or Crysis 2 Nano Edition were worth it. What stings? Their CEs were available for something like $40 just two months later.
I found the Bioshock 2 Special Edition was almost the perfect collector's edition. The unboxing experience was great thanks to how it was presented, everything was of premium quality (including the box itself!), and it looked classy to boot. The only flaw? It was mass-produced so it's not exactly as limited as it suggests to be.
If that won't do, then what's an example of the perfect CE?
Nowadays, how can you tell if a collector's edition is gonna be worth it? Two words: Treehouse Brand. If those guys are making it, then it's sure to be a showpiece. That being said, Square Enix and NIS America deserve a mention for producing sufficient if not essential CEs.